Nynas takes strategic steps to focus on core European + market
Swedish naphthenic base oil producer Nynas AB announced that it is taking strategic steps to strengthen its competitiveness in its core markets. Nynas will create a business footprint focusing on customers in the naphthenics and bitumen market in Europe.
Nynas will focus its sales and marketing operations on its European Plus customers, which includes Europe, India, Middle East, South Africa and Turkey.
As a result of this decision, Nynas has informed its customers in the Americas and in Asia Pacific, that it will reduce its direct sales presence focusing on selected markets and product segments. Nynas is now working with the relevant customers to achieve an orderly transition. In the Asia Pacific, region Nynas will centralise and create a more efficient operation based out of the Singapore office, and in the Americas, Nynas will reduce direct sales to a smaller streamlined operation based in Argentina.
Furthermore, Nynas will focus on four sustainability areas: sustainable products, environment and climate change, health and safety as well as people and society.
In line with Nynas’ strategic choices, the Naphthenics business will refocus on a smaller profitable core business, and on developing its sustainable offering. The Naphthenics business will optimise its channel to market solutions with the objective of providing best value to its customers.
“We will now create a more focused and efficient business while maintaining our innovative leadership within the industry. I am convinced that a more focused company will give us the capacity to invest in what matters most for the future of Nynas and the customers in our core markets,” said Simon Day, vice president, Nynas Naphthenics.
“Nynas remains the number one naphthenic oil producer in Europe, and we intend to maintain the leadership that we have in several market segments. With the current transformation, Nynas will become a stronger and more focused enterprise, better fit to tackle the new business realities,” Day said.